Home Buying in Los Banos>Question Details

Tone, Home Buyer in Los Banos, CA

had to short sale my home in 2010 because of economy and bank not wantingto work with me how long do i have to wait to try and purchase again?

Asked by Tone, Los Banos, CA Sat Jul 21, 2012

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3
Waiting period after a short sale:
-conventional 20% down 2 yrs
-VA 2 yrs
-FHA 3 yrs
0 votes Thank Flag Link Fri Aug 10, 2012
I have heard that it will be two years, but from the date that your Bank subsequently unloaded it.
That would be shorter than the three years, but a wierd way of dating the transaction for you.

On the positive side;
knowing banks as I do; I would prophesize that the banks will be finding way to shorten that wait for you: They will have a very large pool of potential clients who want to buy and, by their rules, cannot. I think that they are greedy and self-serving enough that they will find "special programs" for many buyers.

So the question is, when in 2010 or 2011 did the Bank re-sell your house?
You might also confirm what I have covered here.

Good luck and may God bless
0 votes Thank Flag Link Fri Aug 10, 2012
Three years from the date the property was transfered back to the banks name.
0 votes Thank Flag Link Fri Aug 10, 2012
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